Caring.com Joins The Bankrate Network of Websites
Caring.com has been acquired by Bankrate, Inc. (NYSE: RATE)
San Mateo, CA, May 8, 2014 — – Caring.com, a leading senior care resource for family caregivers in the United States and a top website for senior care reviews, has been acquired by Bankrate, Inc. (NYSE: RATE), a leading online publisher, aggregator, and distributor of personal finance content. The Bankrate network of websites includes Bankrate.com, CreditCards.com, Interest.com, InsuranceQuotes.com, and NetQuote.com. Bankrate reaches a monthly audience of over 14 million U.S. consumers. Caring.com will remain an independent website, and the Caring.com team will lead Bankrate’s efforts for senior care.
“Bankrate shares Caring.com’s mission of providing consumers with objective information to help with difficult decisions,” said Andy Cohen, Caring.com CEO. “Joining the Bankrate network gives us resources and expertise that will allow Caring.com to grow quickly beyond our current 2 million monthly visitors and reach more of the 43 million caregivers in the U.S. who need help making senior care decisions.”
“We are excited about bringing Bankrate’s proven ability to scale audiences to the senior care market,” said Kenneth S. Esterow, President and CEO of Bankrate, Inc. “With the strength of Bankrate behind it, Caring can continue to excel at serving both consumers and senior care providers, while much more quickly expanding the reach of their high-quality services.”
As part of Bankrate, Caring will remain headquartered in San Mateo, CA, and Andy Cohen will remain CEO of Caring.com. The Caring team will continue on with the company.
This news release contains forward-looking statements, which include statements expressing the intent, belief, or current expectations of Bankrate and Caring that are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Actual results might differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with the transaction and Bankrate’s and Caring’s businesses, which include, but are not limited to: macroeconomic conditions and general industry conditions such as the competitive environment and the growth prospects for the senior housing industry; the effects of disruption from the transaction, making it more difficult to maintain relationships with employees, customers, suppliers, and other business partners; litigation and regulatory risks; and risks related to the successful integration of the business acquired and the ability to realize the expected benefits from such acquisition. For more information about factors that could cause actual results to differ materially from our expectations, refer to Bankrate’s reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in Bankrate’s Annual Report on Form 10-K for the year ended December 31, 2013. These documents are available on the SEC’s website at www.sec.gov. Bankrate undertakes no obligation to update or revise forward-looking statements as a result of new information, future events, or otherwise, except as otherwise required by law.